Bank OZK (NASDAQ:OZK) Raises Dividend to $0.42 Per Share

Bank OZK (NASDAQ:OZK) declared a quarterly dividend on Friday, January 3rd,Wall Street Journal reports. Investors of record on Tuesday, January 14th will be given a dividend of 0.42 per share on Tuesday, January 21st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Tuesday, January 14th. This is an increase from Bank OZK’s previous quarterly dividend of $0.41.

Bank OZK has raised its dividend by an average of 9.6% per year over the last three years and has raised its dividend every year for the last 28 years. Bank OZK has a payout ratio of 28.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank OZK to earn $5.97 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 27.5%.

Bank OZK Stock Up 0.3 %

NASDAQ:OZK traded up $0.15 on Friday, hitting $43.98. The stock had a trading volume of 1,417,714 shares, compared to its average volume of 1,137,257. Bank OZK has a 1 year low of $37.43 and a 1 year high of $51.50. The firm’s fifty day simple moving average is $46.60 and its two-hundred day simple moving average is $43.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $4.99 billion, a P/E ratio of 7.23 and a beta of 1.18.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. The company had revenue of $423.00 million during the quarter, compared to the consensus estimate of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. Analysts predict that Bank OZK will post 6.03 earnings per share for the current year.

Analyst Ratings Changes

OZK has been the subject of several research analyst reports. Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Piper Sandler lifted their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Truist Financial dropped their target price on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, October 21st. UBS Group began coverage on shares of Bank OZK in a research note on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.33.

Bank OZK Company Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.